Stonepeak invests $570m in IT solutions firm CoreSite

CoreSite is a subsidiary of American Tower.

  • As a result of this transaction, Stonepeak has a 36 percent ownership stake in American Tower’s U.S. data center business
  • J.P. Morgan is serving as lead financial advisor to American Tower, who is also being advised by CDX Advisors
  • MUFG Bank, Ltd. is serving as sole financial advisor to Stonepeak

Stonepeak invested $570 million in CoreSite, a hybrid IT solutions provider.

CoreSite is a subsidiary of American Tower.

As a result of this transaction, Stonepeak has a 36 percent ownership stake in American Tower’s U.S. data center business.

J.P. Morgan is serving as lead financial advisor to American Tower, who is also being advised by CDX Advisors. Cleary Gottlieb Steen & Hamilton LLP is serving as principal legal advisor to American Tower, who is also being advised by Sullivan & Worcester LLP with respect to certain REIT and tax matters. MUFG Bank, Ltd. is serving as sole financial advisor to Stonepeak. Sidley Austin LLP is serving as principal legal advisor to Stonepeak.

Stonepeak has about $51.7 billion of assets under management. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London and Sydney.